Increase in US rig count will not cap oil prices
Green Car Congress
JUNE 23, 2016
If prices went too low the LTO operators couldn’t afford to drill, which would shrink supply and cause prices to rise. The EIA reported June 14 that it expects LTO output to fall by another 118,000 b/d by July, mostly from the Bakken and Eagle Ford. million b/d—is all but gone by Q3 2016. on February 11.
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